Makers Fund has revealed that it has closed a $500 million fund to invest in games industry and tech startups and other early stage ventures.
This is the third and largest fund that the firm has raised, following its $200 million fund in 2017, and its $260 million fund in 2020.
The company has used previous funds to invest in over 90 companies globally, including Dream Games, AviaGames, Genvid, and social gaming platform Piepacker.
The firm has stated that the funds will be used to invest in founders that are "evolving and innovating the ecosystem" from "product inception" all the way through to globally scaling the studios.
"We founded Makers with the conviction that we were entering the golden age for interactive entertainment, to change the way we all think about investing into the creative medium and how we support early stage founders," said Makers Fund general partner Michael Cheung.
"The industry has since catapulted from $100 bi in 2017 to $170B in 2021 as consumer adoption and engagement accelerates across all demographics and geographies. Our latest fund allows us to back founders throughout their journey from product inception through to global scaling."
Makers Fund founding partner Jay Chi added: "We treat our investments as partnerships, providing founders with a deep support system and strategic guidance from a network of advisors who are equally passionate and committed to the gaming industry. As one of the first gaming funds, we believe introducing long-term capital demonstrates the opportunity ahead and guarantees our support of the industry for decades to come."
Earlier this week, Griffin Gaming Partners announced that it had raised $750 million for its second games-focused fund to invest in Web3 and social platforms.